PDC Energy (PDCE) Releases Quarterly Earnings Results, Misses Expectations By $0.11 EPS

PDC Energy (NASDAQ:PDCE) posted its quarterly earnings results on Monday. The energy producer reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.11), Briefing.com reports. PDC Energy had a negative net margin of 43.37% and a positive return on equity of 2.52%. The business had revenue of $280.70 million during the quarter, compared to analyst estimates of $337.69 million. During the same period in the previous year, the business posted ($3.85) EPS. The business’s revenue for the quarter was up 53.2% compared to the same quarter last year.

PDCE opened at $46.21 on Tuesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of -13.28, a PEG ratio of 0.52 and a beta of 0.66. PDC Energy has a 1 year low of $40.62 and a 1 year high of $66.20.

In other PDC Energy news, COO Scott J. Reasoner sold 1,341 shares of PDC Energy stock in a transaction on Monday, October 15th. The shares were sold at an average price of $50.43, for a total transaction of $67,626.63. Following the transaction, the chief operating officer now directly owns 73,379 shares of the company’s stock, valued at approximately $3,700,502.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Barton R. Brookman, Jr. sold 1,500 shares of PDC Energy stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $52.71, for a total transaction of $79,065.00. Following the transaction, the insider now directly owns 203,526 shares in the company, valued at $10,727,855.46. The disclosure for this sale can be found here. Insiders have sold a total of 10,441 shares of company stock worth $552,165 over the last ninety days. Insiders own 1.00% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Teacher Retirement System of Texas boosted its holdings in shares of PDC Energy by 7.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 13,386 shares of the energy producer’s stock worth $809,000 after buying an additional 974 shares during the last quarter. MetLife Investment Advisors LLC boosted its holdings in shares of PDC Energy by 3.6% in the 2nd quarter. MetLife Investment Advisors LLC now owns 30,317 shares of the energy producer’s stock worth $1,833,000 after buying an additional 1,045 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of PDC Energy by 29.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 5,092 shares of the energy producer’s stock worth $309,000 after buying an additional 1,166 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of PDC Energy by 13.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 9,760 shares of the energy producer’s stock worth $478,000 after buying an additional 1,190 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of PDC Energy by 30.4% in the 2nd quarter. US Bancorp DE now owns 5,218 shares of the energy producer’s stock worth $315,000 after buying an additional 1,215 shares during the last quarter.

Several research firms recently issued reports on PDCE. Macquarie downgraded shares of PDC Energy from an “outperform” rating to a “neutral” rating and set a $65.00 price target for the company. in a research report on Tuesday, August 7th. Williams Capital set a $82.00 price target on shares of PDC Energy and gave the company a “buy” rating in a research report on Thursday, August 9th. TD Securities set a $79.00 price target on shares of PDC Energy and gave the company a “buy” rating in a research report on Thursday, August 9th. BidaskClub raised shares of PDC Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Finally, Stephens reissued a “buy” rating and issued a $78.00 price target on shares of PDC Energy in a research report on Thursday, July 26th. Seven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. PDC Energy currently has an average rating of “Buy” and a consensus target price of $71.00.

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PDC Energy Company Profile

PDC Energy, Inc, an independent exploration and production company, acquires, explores for, develops, and produces crude oil, natural gas, and natural gas liquids in the United States. The company's operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.

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Earnings History for PDC Energy (NASDAQ:PDCE)

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